Three new airline incentive schemes, designed to stimulate the growth of tourism to Cyprus, have been announced by the Cypriot Ministry of Communications and Works government and Hermes Airports. Speaking in a press conference, Communications Minister Efthymios Flourentzou said the three schemes, drafted by the Ministries of Communications and Finance, in collaboration with Hermes, aim
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People who eat lots of red meat may have a higher risk of some types of kidney cancer, according to a U.S. study of thousands of adults. Researchers writing in the American Journal of Clinical Nutrition found that middle-aged adults who ate the most red meat were 19 percent more likely to be diagnosed with
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Minister of Finance Kikis Kazamias revealed on Wednesday that a foreign investor is seriously interested in investing in a large project that would boost both the flagging construction industry and Cyprus' tourism sector. Kazamias accompanied the foreign investor during a meeting with Cypriot President Demetris Christofias. ''The particular possible investment is both large and serious
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By George Mavreas and George Mouskides In a few days we bid farewell to 2011 and say hello to 2012. There are many who wonder: how will the new year evolve in terms of the economy and especially the property sector? Will the same situation continue or will it change? Opinions are varied. Starting with
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Foreign investors are living up to do business in Cyprus Signing the loan agreement with Russia that will provide Cyprus with much-needed cash only goes as far as solving part of the problem as the 2.5 bln euros will just about last this government until the end of 2012. Other measures to curb the public
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ECB said 523 banks had taken advantage of the scheme By Shavasb Bohdjalian Market participants were not impressed with the latest funding support provided by the European Central Bank (ECB) through 3-year LTRO loans, with the euro coming swiftly under selling pressure. The ECB said 523 banks had taken advantage of the scheme that allowed
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The price index of construction materials reached 126.36 in November 2011 (base year 2005=100.00), recording a marginal decrease of 0.05% over the previous month. For the period January – November 2011, the index rose by 4.17% compared with the same period of 2010.
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Sales of petroleum products rose by 1.4% compared with the corresponding period of the previous year in January – November 2011, according to the Statistical Service. Compared with the previous month, total sales of petroleum products fell by 2.4% The Statistical Service said that a “considerable decrease” was recorded in the sales of Unleaded Motor
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Noble Energy, Inc. (NYSE: NBL) announced Wednesday a “significant” natural gas discovery of about 7 trillion cubic feet at the Block 12 prospect, offshore Cyprus. The Cyprus A-1 well, nearly 100 nautical miles south east of the island, encountered approximately 310 feet of net natural gas pay in multiple high-quality Miocene sand intervals, the Houston-based
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Cyprus President Demetris Cristofias announced that the results of Noble Energy's exploratory drilling in Cyprus' block 12 are positive, describing the discovery of hydrocarbons as historic for the island. In a televised address on Wednesday, Christofias said that Noble discovered 310 feet of net natural gas pay, adding that the drilling reached a depth of
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